Have you ever dreamed of a job where you can earn $7,000 a week on average, decide your own schedule, and see some amazing places while you do it? Being an owner-operator truck driver is truly like no other job out there, but how do you get started? In this blog post, we’ll tell you what you need to know to become a successful fully-fledged owner-operator truck driver.
Step 1: Get yourself a commercial driver’s license
A commercial driver’s license allows you to legally drive a heavy commercial truck. It’s something you will need whether you become a company truck driver or an owner-operator. Luckily, it’s not too difficult, but there are some things you should know before you start. Firstly, you will need to decide what license type you need—most truck drivers get a Class A license. Next, you will need to take a knowledge test, earn yourself a CDL permit, and take the CDL skills test to receive your license in full.
Step 2: Form a business and file for a USDOT number
To be an owner-operator, you will need to apply for a USDOT number. To receive this, you will first need to register as a legitimate business. You will need to register through your state’s secretary of state website and choose a business name. You will likely be setting up a sole proprietorship or limited liability company. This allows you to make every business decision without the need to appoint a board of directors. It also means that you are fully responsible for all the financial and legal aspects—so make sure you brush up on your business acumen before you start!
Once you have successfully registered your business, you can then apply for your USDOT number. To do this, you will need to apply through the FMCSA website.
Step 3: Get your trucking authority
The trucking authority is usually identified by an MC (motor carrier) number. This is necessary if you plan to haul freight as an owner-operator. This is a crucial part of becoming an owner-operator but you do need your USDOT number before you can receive one. The MC number can also be applied for through the FMCSA website.
Step 4: Purchase truck insurance and a truck
As an owner-operator, you are required to have liability coverage of up to $750,000. In reality, most shippers and freight brokers won’t work with you if your liability coverage is under $1,000,000. Make sure you get this sorted before purchasing a truck to ensure there are no delays in getting on the road.
Next, you should buy your truck. At this point, you can choose whether it’s best to buy or lease a truck—both have pros and cons. This decision really depends on your initial budget and how long you plan to work as an owner-operator. When making this decision, think about the financial implications of each option, and decide on which best suits your needs.
Step 5: Sign up for a successful logistics solutions company
Getting yourself a truck and all the right paperwork isn’t going to automatically give you the jobs you need to start earning. You’ll also need to sign up for a company that can offer you work and helps you succeed. At REY Logistics, we offer you the best chances of success. Our 24hr service means you can work when you want and we ensure you profit from the partnership with encouraging benefits and incentives. With the opportunity to earn $7,000 a week on average, a $1,000 bonus for every $30,000 earned, a personal 24/7 dispatcher, and a generous 80/20 split, owner-operators working with REY Logistics find success at every turn.
If you’re looking for a career in trucking but want the flexibility of being your own boss, look no further than REY Logistics. Our generous benefits and earning potential make us the best logistics solutions company in the US. Give us a call today to join our team as an owner-operator.